ARK Invest Buys $92M ProShares Bitcoin ETF Shares, Sells Grayscale and Coinbase

Cathie Wood's fund makes significant shifts in its cryptocurrency holdings ahead of a potential SEC decision on spot bitcoin ETFs.

Cathie Wood's ARK Invest has bought 4.3 million shares of ProShares Bitcoin Strategy ETF (BITO), valued at $92.08 million, making it the second-largest holder of the fund.
ARK Invest sold all of its remaining 2.25 million shares of the Grayscale Bitcoin Trust, which used to be the top holding of the ARK Next Generation Internet ETF.
ARK Invest also sold 148,885 shares of Coinbase Global Inc., valued at $27.58 million, despite Coinbase remaining the fund's largest holding.
The changes in holdings come ahead of an expected decision by the Securities and Exchange Commission on whether to allow spot bitcoin ETFs to trade in the U.S.
The ARK Next Generation Internet ETF is up 103% for the year, outperforming the Nasdaq 100 Index which advanced 55%.